Late payments have escalated since the onset of the pandemic

Late payments have escalated since the onset of the pandemic

Credit Connect reports that “Late payments have escalated since the onset of the pandemic”

“Late payments have escalated since the onset of the coronavirus pandemic, according to the latest UK Payment Practices Barometer by trade credit insurer Atradius.

The new report reveals that nearly half the value of Business to Business (B2B) bills are being paid late, while half of the businesses surveyed have been hit by revenue loss and for every £100 of products or services sold, £8 is written off as uncollectable.”

It is very important that commercial debts are recovered quickly and effectively, so that they don’t become unsustainable.

Veritas Legal offer a free commercial debt recovery service, as the fees are recovered from the debtor

Please call: 01392 498686 or email: info@veritaslegal.co.uk

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